Nationwide FlexDirect - 5% interest, free overdraft

hennerz

Can someone please clarify how many Nationwide Flexdirect one person can open and be paid 5% interest on?

a&akay

hennerz wrote: »

Can someone please clarify how many Nationwide Flexdirect one person can open and be paid 5% interest on?

I suspect the answer is no one truly knows until you try it, except 4 is likely the max. My OH opened 4 online and successfully converted an existing Flex ie 5. I tried the the same at the same time but only bagged 3 plus a conversion ie 4. DD got only 2, but as a non-earner at the time I count that as good, as we fund the account:D. My advice to all is to regularly view this forum and bag any good deals if you can while the going's good, ie they haven't yet cottoned on to the MSE jungle drums.

adindas

hennerz wrote: »

Can someone please clarify how many Nationwide Flexdirect one person can open and be paid 5% interest on?

According to their T&C just one is guaranteed. But if you read the story here people get 5% for sour accounts. I have not read any posting here which testify to have more than four account and got 5%.

So go fora four account and watch it each month. Once they drop the interest try to move your money to other account paying higher interest rate.

chamelion

adindas wrote: »

According to their T&C just one is guaranteed. But if you read the story here people get 5% for sour accounts. I have not read any posting here which testify to have more than four account and got 5%.

So go fora four account and watch it each month. Once they drop the interest try to move your money to other account paying higher interest rate.

5 accounts here - no problem. 5% in each.

Archi_Bald

a&akay wrote: »

bag any good deals if you can while the going's good, ie they haven't yet cottoned on to the MSE jungle drums.

You mean "they" as in banks and building societies? If so, I don't think there is anything on MSE that they don't know yet, and they all are on MSE regularly, anyway, unofficially and officially.

chamelion

adindas wrote: »

Thanks. is it all single or one is a joint account ?

all single

a&akay

Archi_Bald wrote: »

You mean "they" as in banks and building societies? If so, I don't think there is anything on MSE that they don't know yet, and they all are on MSE regularly, anyway, unofficially and officially.

So why was the Santander 123 account restricted to just 2 recently? They got the take-up wrong and adjusted accordingly, as it was such good deal. If you don't surf the boards you may miss out. That's all the message was about.

adindas

chamelion wrote: »

all single

Thanks again.
Has anyone else manage to open more than four accounts (all single) and still pay interest of 5% ?

Just want to see the chance, as every time we open an A/C they will always do a credit search.

Jogle

The FAQs seem to have changed and now state:

You can open up to four Nationwide current accounts. However, under the terms and conditions of this account: customers are only entitled to one promotional credit interest rate of 5% AER. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

Any additional FlexDirect accounts held or more than one joint account held by you and another customer will result in the credit interest rate being reduced from 5% to 1% within 3 working days of the account being opened.

So it looks like those of us with more than one account may continue to get 5% on our extra ones but new ones will be down to 1%

billn

Can somebody who has had this account for a while clarify when money has to be put in, is it a calender month or from the date the account was opened (as with Santander)?

I have just had my first statement and the £2500 and what I thought would be the next months £1000 is on the same statement making me think I may have to credit the account again before the next statement.

I hope this makes sense.